Tullett Prebon Share Discussion Threads

[quepassa] 09/5/2014 09:24

12% down on last period - Not a surprise

Good to see Tullets augmenting their business with an acquisition and branching out into a new specialisation of oil broking.

Slightly dilutive but certainly earnings accretive and those earnings should flow immediately. All-paper acquistions normally are very incentivising to staff of company being acquired. Hopefully there will be good lock-in periods.

Cost cuttings always good and stripping £20million of annual costs from this business is no bad thing.

Confirmation that arbitration will be decided imminently on USA action against BCG.

RECONFIRMATION that FINANCIAL POSITION REMAINS STRONG.


ALL IMO. DYOR.
QP

[spooky] 09/5/2014 08:19

On the subject of the acquisition, i can't see Terry Smith over paying for anything.

[gostevie63] 09/5/2014 08:08

I'm not too surprised by the fall of about 10% in the short term but I certainly shan't be panicked into selling. The acquisition looks reasonable, they are putting measures in place to cut costs, and the dividend seems well-enough covered.

If the price stays at this level by the end of the month I may well top up.

[its the oxman] 09/5/2014 08:07

Agree with your thinking spooky. Acquisition looks sensible enough though. Just got to sit tight I guess.

[micos] 09/5/2014 07:52

Now yielding 5.8%. must get some more at this level.

[spooky] 09/5/2014 07:40

I'm still a little confused here. The acquisition isn't ludicrously priced, it spreads business risk, the news on trading and the legal situation isn't anything that we didn't already know about. I'm scratching around and the only thing that i can come up with are possible downgrades to allow for the cost cutting. I expect them to close in the mid 2.90's.

[lonrho] 09/5/2014 07:19

maybe its the issue of shares and its attendant dilution plus of course some shorting by people who will be buying the shares to get the price down and thereby get more shares.

[scottishfield] 09/5/2014 07:19

I'll buy some more I think.

[spooky] 09/5/2014 07:14

I'm surprised by the size of the fall here, there wasn't anything new in the update, perhaps the market knows something about the acquisition that i don't.

[scottishfield] 09/5/2014 06:51

IMS & acquisition news this morning.

[tom111] 02/5/2014 12:36

Good unemployment figures just released US could mean higher interest rates sooner than expected

[tom111] 02/5/2014 11:36

Happy to hold here waiting for the inevitable rate increases

[quepassa] 02/5/2014 07:50

More and more circumstantial evidence in the press/economy about a likely early increase in £ interest rates. And similar for $.

Looking to the near future, this should serve to boost volume for Tullets for interest rate product.

Equally will stimulate currency flows.

This all being after an unprecedented and lengthy period of interest rates being held firmly down by Central banks post financial meltdown.

Allowing for the recent dividend being stripped out of the sp, Tullets
up a remarkable c.6% over a week or so.

ALL IMO. DYOR.
QP

[tom111] 01/5/2014 11:28

struggling to overcome 3.20p although first thing could have sold at 3.26p.Court case imminent?

[tom111] 29/4/2014 16:40

So much zig zagging here difficult to know the next move now were near 3.20p

[its the oxman] 29/4/2014 14:58

Yes I think we have some ground to make up.

[quepassa] 29/4/2014 08:26

Fully made up last week's xd-related fall. That's encouraging against a lacklustre FTSE market.

ALL IMO. DYOR.
QP

[tom111] 29/4/2014 08:16

The recovery seems to be gaining traction in this sector with ICAP also doing well

[tom111] 28/4/2014 14:43

Yes trading not too far from its base over a 5 year period,hoping for a recovery here if we break 320p then we could go see 340p quickly as things get more volatile which is happening at the moment imo

[its the oxman] 28/4/2014 14:35

Yes encouraging pick up. But still some way off the 400p mark it was close to not so long ago. Fingers crossed for legal win soon and pick up in sentiment / business.

[scottishfield] 28/4/2014 12:12

Yes strong morning this morning.

[tom111] 28/4/2014 12:11

Showing signs of strength here after going xd

[quepassa] 24/4/2014 12:14

On 16th April,

Goldman Sachs REITERTERATED their neutral recommendation on Tullets and RECONFIRMED their PRICE TARGET of 390p.

Indicating in their view an upside of 30% to the current stock price.

ALL IMO> DYOR.
QP